Author: Steven Sahiounie

The global debt pile grew by $8.3 trillion in the first quarter to a near-record high of $305 trillion as the global economy faced a “crisis of adaptation” to rapid monetary policy tightening by central banks, according to a closely-watched report from the Institute of International Finance. The finance industry body said the combination of such high debt levels and rising interest rates has driven up the cost of servicing that debt, triggering concerns about leverage in the financial system. Central banks around the world have been hiking interest rates for over a year in a bid to rein in…

Dmitry Peskov reiterated that the principle of reciprocity and the principle of an appropriate response to unfriendly steps would continue to prevail in relations Russia will not let the unfriendly actions of other countries go unanswered, adhering to the principles of reciprocity and responding appropriately, Kremlin Spokesman Dmitry Peskov told reporters on Thursday. Speaking about the restrictions placed on the use of the bank accounts of the Finnish embassy and consulate general in Russia, the Kremlin spokesman pointed out that, “this is not an initiative of the Russian side.” “We are only responding to the situation created by the authorities…

A state owned energy company imported 65,000 tons of supercooled natural gas from the UAE China has unloaded its first cross-border cargo of liquefied natural gas (LNG) settled in yuan, the state-owned China National Offshore Oil Corporation (CNOOC) announced on Tuesday. The company said it purchased 65,000 tons of LNG from the United Arab Emirates (UAE). The move is the latest sign of the yuan’s growing presence on the international stage, as conditions for settling oil and gas trade in the Chinese currency become increasingly mature, CNOOC said. As part of its de-dollarization strategy, Beijing has been promoting settlements in…

Belarusian Defense Minister, Viktor Khrenin, affirmed that his country will continue to stand by Syria in the war against terrorism and providing various forms of humanitarian aid. Khrenin s, during a meeting with the Syrian ambassador to Belarus, Muhammad al-Omrani, said that Belarus has a great desire to strengthen its bilateral relations with Syria in all fields and to participate in the reconstruction process. Both sides discussed the strong friendship relations between the two countries and ways to enhance them in various fields, and the importance of continuing coordination between them in light of the rapid changes the world is…

Goods from northeastern provinces will begin to pass through the port of Vladivostok in June, Beijing says China has added Russia’s Far Eastern port of Vladivostok as a transit hub for domestic trade shipments, the country’s customs agency announced on Monday. The move is intended to facilitate cross-border transfers of local goods via Russia’s largest port on the Pacific Ocean. It will come into effect in June and will provide China’s northeastern provinces of Jilin and Heilongjiang with access to the sea port. The new route will help save shipping time and costs to deliver goods to China’s southern…

Assistant Secretary-General of the Arab League, Hossam Zaki, has stressed that the consensus during the Ministerial preparatory meeting was the most prominent feature on all decisions which were submitted to Jeddah Summit due to on Friday. Zaki pointed out, in a press statement, to that there are several Arab understandings on a group of significant issues. He Indicated that the meeting touched upon several topics most of them are political ones, related to the Palestinian Cause and latest developments in the areas of crisis and foreign intervention in the Arab Countries affairs, in addition to adopting a set of decisions submitted by…

Maritime cargo shipping along the Northern Sea Route has exceeded Soviet-era highs, according to a government minister Cargo shipments via Russia’s Northern Sea Route (NSR) are growing steadily and surpassed 30 million tons last year, according to the minister for the development of the Far East and Arctic. Aleksey Chekunkov reported to Russian President Vladimir Putin on Wednesday that freight traffic along the Arctic route had shot up from 4 million tons in 2014 to 34 million tons in 2022, which is “five times higher than the record of the Soviet era.”  “While a number of unfriendly states are trying to…

President Mahmoud Abbas arrived today in Jeddah, Saudi Arabia, to participate in the 32nd Arab Summit, which will launch its meetings on Friday. The President was received at King Abdulaziz International Airport by Prince Badr bin Sultan bin Abdulaziz, the Deputy Governor of the Makkah Region, the Secretary-General of the League of Arab States Ahmed Aboul Gheit, other Saudi officials, and officials and staff of the Palestine Embassy in Saudi Arabia. The President is accompanied by the Secretary General of the Executive Committee of the Palestine Liberation Organization, Hussein al-Sheikh, the Minister of Foreign Affairs and Expatriates, Riyad Malki, the…

US policies and mounting concerns over creditworthiness are dragging down the greenback, the investor says The US dollar is losing its leading global position, as Washington has become the world’s largest debtor, famed investor Jim Rogers told the Sputnik news agency on Wednesday. The co-founder of the Quantum Fund noted that more and more countries are becoming hesitant about the greenback, as deep reliance on its use can lead to multiple problems. “Many friends of America are moving, trying to find something to compete with and ultimately replace the US dollar,” Rogers said in an interview with the Russian outlet. According to the investor,…

Israeli soldiers today opened fire and injured a 14-year-old child while standing at the entrance to Aida refugee camp, north of Bethlehem, according to local sources. They said the soldiers opened fire at the child during an activity marking the 75th anniversary of the 1984 Palestinian Nakba injuring him in the leg and shoulder. He was rushed to hospital in nearby Beit Jala for treatment. The witnesses said there were no confrontations with soldiers in the area to justify the shooting. Source: Wafa